Tax Laws Amendment (2009 Measures No. 3) Act 2009 (47 of 2009)

Schedule 3   Petroleum resource rent tax

Part 1   Functional currency

Petroleum Resource Rent Tax Assessment Act 1987

12   After subsection 2B(1)

Insert:

Group company - time

(1A) For the purposes of this Act, a company is a group company in relation to another company at a particular time if, at that time:

(a) one of the companies was a subsidiary of the other company; or

(b) each of the companies was a subsidiary of the same company.